(Eagle News)–President Bongbong Marcos has welcomed the public-private collaboration to make the Philippines a major player in the electronic vehicle industry, noting the country’s industry potential.
During the recent fourth meeting with the Private Sector Advisory Council (PSAC) Job Sector Groups in Malacañang, the President said, as it is, the Philippines was already becoming part of the global chain for electronic vehicles.
The President said consumers’ demand to source power from green energy could, however, pose a challenge in the pursuit of an electronic vehicle industry in the country, the Presidential Communications Office said.
To address the challenges, the President, the PCO said, underscored the need for the private sector and the government to be conscientious when considering the issue.
He instructed the PSAC-JSG to submit a complete list of the proposals they have so far presented.
The council had already made previous recommendations to the President, but, during the meeting, they gave updates on these recommendations and put forward new proposed strategies to accelerate job creation in the country, particularly in the agriculture, information technology and business process management, manufacturing, maritime, and automotive sectors.
According to the PCO, among the council’s new recommendations include support for the government’s thrust in electronic vehicle manufacturing with a suggestion to look into 17 downstream and upstream industry development opportunities, including mining in the electronic value chain.
Seven of 18 common automotive components of a vehicle are being produced in the Philippines; one of four internal combustion engine (ICE) specific components are locally made.
The Philippines, meanwhile, ranks fourth in copper reserves globally.
Three plants are set to increase production 10-fold by 2027, according to the PCO.
Global electronic vehicle sales are expected to overtake non-electronic vehicle sales globally by 2026.
Among those who attended the PSAC-JSG meeting included Executive Secretary Lucas Bersamin; Labor Secretary Bienvenido Laguesma, Finance Secretary Benjamin Diokno; Department of Trade and Industry Secretary Alfredo Pascual; Secretary Arsenio Balisacan of the National Economic and Development Authority; Chief Presidential Legal Counsel Juan Ponce Enrile; Secretary Alfredo Lagdameo, Special Assistant to the President; Presidential Adviser Frederick Go, special adviser on investment and economic affairs; Commission on Higher Education Chairman Prospero De Vera III; Senior Undersecretary Domingo Panganiban of the Department of Agriculture; and Administrator Hernani Fabia of the Maritime Industry Authority.
